Yesterday's Dollar Recovery Questioned Today

Dec. 06, 2022 7:25 AM ETFXA, FXC, CYB, EROTF, ULE, EUO, FXE, FXY, JYNFF, YCL, YCS, FXB, GBBEF, UUP, USDU, UDN, JEMTF, CEW, PGDDF
Marc Chandler profile picture
Marc Chandler
15.4K Followers

Summary

  • Most large bourses in Asia-Pacific fell, including Hang Seng and the index of mainland companies that trade in Hong Kong.
  • China’s CSI 300 and Japanese indices resisted the drag.
  • Europe’s STOXX 600 is off almost 0.5% and US futures are a little softer.
  • Most G10 currencies are a little stronger today, while sterling and the Canadian dollar are laggards with small losses.
  • Among emerging markets, Asian currencies are weaker, led by a 2% drop in the South Korean won. The South African rand is the strongest in the EM space.

Business And Finance With One Hundred Dollar Bills With Bull Market Arrow Graph High Quality

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Overview

The 11 bp jump in the 10-year US yield yesterday after dropping nearly 26 bp in the previous three sessions helped the greenback recover and took a toll on stocks. Still, the S&P 500 is above the low set

This article was written by

Marc Chandler profile picture
15.4K Followers
Marc Chandler has been covering the global capital markets in one fashion or another for 25 years, working at economic consulting firms and global investment banks. A prolific writer and speaker he appears regularly on CNBC and has spoken for the Foreign Policy Association. In addition to being quoted in the financial press daily, Chandler has been published in the Financial Times, Foreign Affairs, and the Washington Post. In 2009 Chandler was named a Business Visionary by Forbes. Marc's commentary can be found at his blog (www.marctomarket.com) and twitter www.twitter.com/marcmakingsense

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